German finance ministry abandons digital tax plan for tech giants: Bild

September 5, 2018

BERLIN (Reuters) – Germany’s finance ministry has given up on plans to make internet giants, including Google, Apple, Facebook and Amazon, pay more tax, top-selling Bild newspaper reported on Wednesday.

A confidential finance ministry document said the “demonisation” of the big digital companies” was “not productive”, Bild said.

The move would be a reversal for Social Democrat (SPD) Finance Minister Olaf Scholz, as in last year’s election his party campaigned for higher taxes for big, global internet firms. The SPD is the junior partner in a coalition under conservative Chancellor Angela Merkel.

Germany has long been cool on proposals from the European Commission which would make firms with significant digital revenues in Europe pay a 3 percent tax on their turnover on various online services in the European Union. That would bring in an estimated 5 billion euros ($5.78 billion).

No-one was immediately available at the finance ministry to comment on the report.

(Reporting by Madeline Chambers; Editing by Andrew Heavens)

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September 05, 2018 at 12:55PM
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